2016: HB 922 – Quality Jobs Income tax credit
Session 2015-16Sponsored by Rep. Bruce Williamson (R-Monroe), House Bill 922 is Georgia Chamber introduced legislation that clarifies the definition of taxpayer with regards to the Quality Jobs Tax Credit. Many companies, for varying business reasons, may choose to set up multiple LLCs with separate FEINs (federal employer identification number) under one parent corporation. Those separate legal entities are “disregarded” for tax filing purposes in Georgia. HB 922 ensures that corporations creating more than 50 jobs in the state through disregarded entities are eligible to qualify for the Quality Jobs Tax Credit as long as those jobs all roll up to one parent corporation.
| Description | Sponsors | Bill Status | Chamber Position |
|---|---|---|---|
Sponsored by Rep. Bruce Williamson (R-Monroe), House Bill 922 is Georgia Chamber introduced legislation that clarifies the definition of taxpayer with regards to the Quality Jobs Tax Credit. Many companies, for varying business reasons, may choose to set up multiple LLCs with separate FEINs (federal employer identification number) under one parent corporation. Those separate legal entities are “disregarded” for tax filing purposes in Georgia. HB 922 ensures that corporations creating more than 50 jobs in the state through disregarded entities are eligible to qualify for the Quality Jobs Tax Credit as long as those jobs all roll up to one parent corporation. |
Effective Date 05/03/2016 |
